Guest post by Abhinav Khatri.
PayPal is the best (and most secure) way to send and receive money worldwide. You don’t need any other tool, just a PayPal account is enough for making payments and getting money from anywhere in the world.
PayPal Without Credit card?
But, there is a problem and misconception with PayPal. Many users think that a credit card is required to use this service. OK. This is true, but not 100% correct. You can use PayPal without any credit card! Although, if you don’t register a credit card with your PayPal account – your account will be marked as “unverified” account and hence, you can’t shop at certain websites. Another drawback of unverified PayPal account is limitations on withdraw and receiving money. As an “unverified account” you can send / receive just $500.00 USD per month. To increase this limit, you must add and verify a credit card to your account.
If you don’t have a credit card, try Virtual credit cards (VCC). VCC are getting popular these days. Many banks offer VCC without any restriction as in case of credit card.
Withdraw Money Directly To Your Bank Account In India
Indian PayPal users can withdraw money to their bank account directly. This money is sent via Electronic Fund Transfer (EFT) and takes just one week to arrive. If you requested a sum below Rs. 7000/- PayPal will charge Rs 50/-, else the transaction will be free. Though, PayPal generally offers low rates for USD.
Abhinav is a PHP developer, based in Delhi.